This basis of premium involves units of exposure, and the quantity comprising each unit of. exposure is indicated in the classification rates, such as âper personâ. Endurance American Specialty Insurance Company EGL 1305 0606. Page 2 of 5.
DEFINITION of 'Conservatorship' A conservatorship is a situation or circumstance wherein the courts determine that an individual is not capable of overseeing and dealing with legal matters, thus the individual appoints someone else, a conservator, to take care of such matters.
A minor can't legally take ownership of inherited property that is left to him directly, so a conservator within your estate must manage the property for him. A court-appointed conservator is typically approved and appointed by the probate judge when he volunteers for the job, or when the executor or personal representative of the estate nominates him. A conservator is also called a guardian in some states.